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OrganiGram to supply pot to Trauma Healing patients
2014-11-10 08:08 ET - News Release
ORGANIGRAM SIGNS LETTER OF INTENT WITH TRAUMA HEALING CENTERS
OrganiGram Holdings Inc., through its wholly owned subsidiary, Organigram Inc., has entered into a binding letter of intent with Trauma Healing Centers Inc. pursuant to which OrganiGram will be the preferred supplier of medical marijuana to Trauma Healing Centers' patients.
Under the terms of the LOI, OrganiGram will produce the specified strains of medical marijuana requested by Trauma Healing Centers to treat its patients suffering from Post-Traumatic Stress Disorder ("PTSD"). The LOI commits OrganiGram to provide up to 1,500 kilograms of medical marijuana specifically for Trauma Healing Centers' patients in 2015, increasing to 3,000 kilograms in 2016 and by 20% each year thereafter. The LOI covers a term of 10 years with an option to extend by 5 years at the end of the initial term.
In addition, OrganiGram has agreed to collaborate with Trauma Healing Centers to conduct research related to PTSD and the use of medical marijuana for treatment.
"We are extremely happy to finally be cementing this long-term relationship with Trauma Healing Centers. The services Trauma Healing Centers provides to Canadian Veterans and First Responders is extremely important and we are proud to be in a position to assist in their mission." said Denis Arsenault, Chairman & CEO of OrganiGram.
Trauma Healing Centers is in the process of opening 13 centers across Canada. The first 4 centers are scheduled to open in Edmonton, Ottawa, Quebec and Halifax Region in January 2015. An additional 9 centers are scheduled to open across Canada by June 2015.
"Securing a consistent supply of the highest quality medicine for our patients is a vital part to the services we provide at Trauma Healing Centers. We are pleased that OrganiGram has guaranteed an ongoing supply of medicine for our patients and we look forward to a long and successful partnership." said Kyle Atkinson, President of Trauma Healing Centers.
